Human Resources Flashcards
Fringe benefits
Extra benefits that you recieve for working for a company (a company car)
Job enrichment
Allowing employees more job responsibility and a variety in their jobs to motivate them
What is a salary
An annual payment
What is a wage
An hourly payment
Delegation
When you give a task to somebody else
Line manager
An employees immediate boss or manager
Flat organisational structure
This has wide spans of control and few levels of hierarchy
A tall organisational structure
This has narrow spans of control and a larger number of levels of hierarchy
Benefits of training
. Motivation
. Retainment
. Productivity
. Producing better goods and services
Induction training
Induction training is the training an employee receives when they start a new job. It is designed to help the new employee settle into the business. It can include meeting other employees, a tour of the building, IT systems, company rules and procedures. It normally takes place in the workplace.
On the job training
On-the-job training is training that happens in the workplace. Employees learn from more experienced colleagues
On the job training benefits
. Realtively cheap
. Gains experience from experienced employees
. See how the employee performs in the actual workplace setting
. Easier to learn practically
On the job training disadvantages
. May pick up bad working habits or practices from other employees
. Unlikely to bring new skills into the business
. Other employees may be taken away from their work to help the trainee
. Mistakes made may be costly
What is off the job training
Off-the-job training is training that happens away from the employee’s workplace. This can include a course at a college, university or at a training provider or studying for a qualification at home.
Advantages of off the job training
. Bring new ideas into the business
. Since its expensive employees may feel valued
. Likely to obtain new skills since the training provider specialises in that specific field
Disadvantages of off the job training
. Expensive, especially for an employee that could leave at any time
. The training may not be tailored to the companys practices
. The company may not be able to monitor their employee
Retention
Retention refers to keeping employees working for a business.
Financial methods of motivation
. Salary
. Bonuses
. Comission
. Promotions
. Fringe benefits
Non financial methods of employment
. Job rotation
. Job enrichment
What is job rotation
Job rotation involves an employee having a large amount of variety in their day-to-day role. It can motivate employees by avoiding them becoming bored with their job.
What is job enrichment
job enrichment often means giving employees more responsibility, allowing them to make more decisions and enabling them to have more of a say in how they complete their role.
What is a full time contract
A full-time employee works a full working week, usually between 35-40 hours over five days each week.
Benefits of a full time contract to a business
. More skilled and commited to a business
. Better team dynamic as they will know most people
. Businesses can easily predict costing of these employees rather than part time employees
What is a part time contract
A part-time employee works fewer hours than the normal working week, usually between 10 and 30 hours.
Benefits of a part time contract to a business
. Can work during busy periods
. Lower salary and benefit costs such as paid leave
. Reduced risk of them getting injured or sick at work
. Easily able to fill in for absent employees
. Increased productivity since they will work more intensely over shorter hours
Zero hours contracts
Zero hours contracts mean that an employee has no set or guaranteed hours of work, so for example one week they may work for five hours and the next they may work for 30 hours.
Span of control
The number of staff that a manager has a responsibility for
chain of command
the route by which instructions and communications flow from the top to the bottom of a business, explaining who is answerable to whom
delayering
a process where a business removes layers of its management to make its structure more flat
subordinates
members of staff below a manager in the chain of command
Centralised management structure
A centralised structure is where business decisions are made at the top of the business or in a head office and distributed down the
chain of command
.
Advantages of a centralised management structure
. consistency across the business
. the business has a clear direction
. operations and decisions are closely controlled and managed
. the chain of command and accountability are clear
Disadvantages of a centralised management structure
it can demotivate employees
a standardised approach may not work in all business locations
it may lower productivity
Decentralised management structure
A decentralised approach is where a business allows decisions to be made by managers and subordinates further down the chain.
Advantages of a decentralised management structure
. improved employee motivation
. allowing managers lower down the chain to make decisions to suit their local area and customers
. more responsibility for employees
Disadvantages of a decentralised management structure
. consistency is not achieved across the business
. managers can make ineffective decisions
. may negatively impact sales and overall business performance, eg because of ineffective decisions by managers lower down the chain
What is remote working
When employees are able to work from home
Marketing mix
It is a marketing tool used to attract customers to a business, and all four elements should be carefully considered in order for a business to be effective.
What are the four Ps of the marketing mix
Product, price, place or promotion
What is produc differentiation
Businesses need to stand out from their competitors. This is known as product differentiation.
This can be done by building brand image
– advertising, celebrity endorsements and its logo
having a unique selling point (USP)
Whats a star
These products have high market share in a fast growing market
Cash cows
High market share in a low growth market
question marks
Low market share in a fast growth market
Dogs
Low market share in a low growth market
What oart of the product life cycle do businesses not make any profits
Development
